News Reader (New:
Show short preview
Login via Facebook?
You are currently logged in to Facebook. Would you like to autologin to the network?
Remember my choice
» CUSTOMER RELATIONSHIP MANAGEMENT IN RETAIL SECTOR (BIG BAZAAR)
CUSTOMER RELATIONSHIP MANAGEMENT IN RETAIL SECTOR (BIG BAZAAR)
This is a research report on
CUSTOMER RELATIONSHIP MANAGEMENT IN RETAIL SECTOR (BIG BAZAAR)
section of our research repository.
17063 views, 0 comments, Last Update: Sep 28, 2011.
SUMMAR TRAINING PROJECT REPORT
TO STUDY CUSTOMER RELATIONSHIP MANAGEMENT IN RETAIL SECTOR (BIG BAZAAR)
SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF BACHELOR OF BUSINESS ADMINISTRATION (BBA) GURU NANAK DEV UNIVERSITY AMRITSAR
I would like to express my deep sense of gratitude towards the Faculty and the seniors around us, for their guidance and encouragement throughout the period of the project study. I am indebted to their guidance, spirit and valuable suggestions. I would also like to thank BIG BAZAAR and its employees, who has been a continuous source of inspiration for me throughout the curriculum. I would like to thank everyone who has been a help directly or indirectly leading to the successful completion of the study report.
I hereby declare that I have carried out Research Project on the topic entitled “Customer Relationship Management in Retail Sector (Big Bazaar)” in NCR.
I further declare that this project work is based on my original work and no part of this project has been published or submitted to anybody.
TABLE OF CONTENTS
Sr. No. Topic
1.1 1.2 1.3 1.4 1.5
Overview of Industry as a whole Profile of the Organization Problems of the Organization Competition Information S.W.O.T. Analysis of the Organization
2.1 2.2 2.3 2.4 2.5
Object & Methodology
Significance Managerial usefulness of the study Objective Scope of the Study Methodology
Chapter – 3 Chapter – 4 Chapter – 5
Conceptual Discussions Data Analysis Findings and Recommendations
OVERVIEW OF THE INDUSTRY AS WHOLE
The Indian retail industry is now beginning to evolve in the line with the transformation that has swept other large economies. The liberalization of the consumer goods industry initiated in the mid-80 and accelerated through the 90’s has begun to impact the structure and conduct of the retail industry. The concept retail which includes the shopkeeper to customer interaction, has taken many forms and dimensions, from the traditional retail outlet and street local market shops to upscale multi brand outlets, especially stores or departmental stores. The objective being to assess the various parameters that influences a buyer to visit or shop at departmental store thereby contributing to its turnover (in terms of sales and profits) hence leading to its overall success. The extensive research brought me to conclude that departmental stores are soon emerging on the top priority lists, amongst the shopping spree in Delhi and NCR, as they seem to derive immense pleasure of convenience and exposure to variety under one roof, in their extremely busy lives, when they don’t have time for things. Though some of the customers perceive departmental stores to be expensive and only high income category’s cup of tea, the stores make constant efforts to induce them to at least visit the store at once during the sale period, or discount offers.
The Retail Marketing Revolution - An Introduction “Any business that directs its marketing efforts towards satisfying the final consumer based upon the organization of selling goods and services as a means of distribution” By 2010, the list of India's top 10 retailers will have at least 5 Indian corporate. Retail Marketing will go through a tremendous change in India this millennium. It will change India's cities, its people, and its households. The Indian consumer is reportedly the largest spender in Singapore and London. It is, therefore, strange that there have, so far, been few efforts to present the product in the right kind of environment in India. Indeed, the right shopping experience does induce Indian consumers to spend more. This is evident from the experiences of retail-outlets like Music. World, Big Bazaar, Spencer’s, Crosswords, The Home Store, Ebony, Bigjo’s, Saboos, Standard, Nanz, Vijay Store and Janaki Das & Sons, Westside etc.
Factors affecting Retail marketing
The development of organized retail is dependent on the efforts of several agencies and institutions. A glimpse of the last 2 decades of the previous century proves illuminating. Large-format retailing started with outlets like Vivek's and Nalli's in Chennai and Kidskemp in Bangalore, and, at another level, with manufacturer-retail brands like Bata, Bombay Dyeing, and Titan.
Government: The first among these is the government. In a country as big as India and with as many states as ours, it is imperative that the Central government and all state governments bring in Value Added Taxation or a unified taxation system to ensure that the tax-regimes are the same across the country. The laws governing retail real estate should also be looked into, so that it is possible to develop retail-estate beyond the city-limits. Apart from providing entertainment and retail opportunities, this will also decongest the city center and facilitate the development of suburbs. The relevant rules should also be amended to allow retail-stores to operate 7 days a week, 12 hours a day.
Given the hours most urban consumers keep at work, and keeping in mind the increase in the number of nuclear families, this may, indeed, make sense. This will also help people enjoy their evenings, out at malls.
Developers: The second group, whose participation is essential in making retail a boom-sector in this millennium, comprises developers. Most properties are developed without considering the end user; thus, we sometimes find highCeilinged offices and low-ceilinged retail stores. Often, the shopper's convenience is not taken into consideration while the property is constructed.
Manufacturers: There's a lot at stake here: even so early in the 21st Century, India is too large a market to be ignored by transnational retail giants. From the manufacturing company's perspective, the focus should be on producing good products, and forging relationships with organised retail. Manufacturers need to draw a plan of producing quality products and tie in with retailers. Indeed, the birth of organised retail will also engender the creation of private labels and store-brands. Thus, if a manufacturing company lacks the resources to build a brand, it can supply to a retail-chain that has the resources to create a brand of its own.
Indian Consumers: And even as these developments were taking place, the Indian consumer became more mature. Customer-expectations zoomed. Thus, at the beginning of the New Millennium,
retailers have to deal with a customer who is extremely demanding. Not just in terms of the product-quality, but also in terms of service, and the entire shopping experience.
Today, the typical customer who shops in a retail outlet compares the time spent at the check-out counter with that at an efficient petrol station, and the smile of the counterperson to that decorating the face of a Jet Airways' crew member. To cope with the new customer, manufacturers have to focus on product quality and brand building. And retailers, in turn, have to focus on the quality of the shopping experience. In this millennium, like in the last, customers will want to spend time with their family and friends. They may like to visit an outlet on weekends where everything will be available under one roof. India will benefit from these developments because of increased consumption through retailing and the corresponding increase in employment created by retailing. Retail organizations exhibit great variety and new forms keep emerging. There are store retailers, non store retailers, and retail organizations. Consumers today can shop for goods and services in a wide variety of stores. The bestknown type of retailer is the department store. Japanese department stores such as Takashimaya and Mitsukoshi attract millions of shoppers each year. These stores feature art galleries, cooking classes, and children’s playgrounds. The success of the retail stores, therefore, depends on customers’ reaction to the retailing mix which influences the profits of the store, its volume of turnover, its share of the market, its image and status and finally its survival.
Trends In Retail Marketing
At this point, I can summarize the main development retailers and manufacturers need to take into account as they plan their competitive strategies. In India the trends are mainly in three sectors. These sectors are: Trends in retail marketing
New retail forms and combinations continually emerge. Bank branches and ATM counters have opened in supermarkets. Gas stations include food stores that make more profit than the gas operation. Bookstores feature coffee shops. The electronic age has significantly increased the growth of non store retailing consumers receive sales offers in the mail and over television, computers, and telephones, to which they can immediately respond by calling a toll-free number or via computer.
Competition today is increasingly intertype, or between different types of store outlets. Discount stores, catalog showrooms, and department stores all compete for the same consumers. The competition between chain superstores and
Smaller independently owned stores have become particularly heated. Because of their bulk buying power, chains get more favorable terms than independents, and the chains’ large square footage allows them to put in cafes and bathrooms.
Today’s retailers are moving toward one of two poles, operating either as mass merchandisers or as specialty retailers. Superpower retailers are emerging. Through their superior information systems and buying power, these giant retailers are able to offer strong price savings. These retailers are using sophisticated marketing information and logistical systems to deliver good service and immense volumes of product at appealing prices to masses of consumers. Many retailers are even telling the most powerful manufacturers what to make; how to price and promote; when and how to ship; and even how to reorganize and improve production and management. Manufacturers have little choice: They stand to lose 10 to 30 percent of the market if they refuse.
Technology is becoming critical as a competitive tool. Retailers are using computers to produce better forecasts, control inventory costs, order electronically from suppliers, send e-mail between stores, and even sell to Customers within stores. They are adopting checkout scanning systems, electronic funds transfer, and improved merchandise-handling systems.
Retail Marketing In India
There are various ways of making goods available to consumers like: • • • Company to distributor to wholesaler to retailer to consumer Company to salesperson to consumer Company to consumers (online/ phone/ catalog ordering)
These three are among the most common ways of making the goods available to consumers. But in India the three layered system of distributor, wholesaler and retailer, forms the backbone of the front-end logistics of most of the consumer-good companies.
There are a number of reasons behind this fragmented retail market. Some of the major reasons being:
Poverty and lower literacy levels. Low per capita income. 13
• • • • • • •
Savings focused and less indulgence mindset. Poor infrastructure facilities like roads etc. Restrictions on intra-state good movement. High taxes. No exposure to media. High import duties on imported goods. FDI in retailing is not allowed.
CRM In Retail Marketing( Big Bazaar)
Customer relationship activities have the most impact on customer retention. Every customer service encounter has the potential to gain repeat business or have the opposite effect. The expectation of personalized, relevant offers and service is becoming a primary driver of customer satisfaction and retention in financial services.
What Exactly Is CRM?
The first thing you find when looking into the world of Customer Relationship Management is the number of different definitions in use today.
Here is the one I have chosen for this Project:
"CRM is the business strategy that aims to understand, anticipate, manage and personalize the needs of an organization's current and potential customers" -PWC Consulting .
CRM is a business strategy, one that puts the customer at the heart of the business.
“That’s nothing new” I hear you say, and you would be right. Good business people have always understood the relationship between happy customers that come back again and again and creating long term, sustainable profitability. Big Bazaar has realized this and applied this to effect.
One just needs to think of the local shop owner who knew everyone of his customer’s names, birthdays and particular ailments to prove that point. What is new is that there now exists the technology to enable this customer-centricity on a much larger scale.
(“Come To Big Bazaar- Isse Sasta Aur Achha Kahin Nahin”)
It is said that a successful CRM implementation will allow your Customer Service, Sales and Marketing people (and anyone else in your organization) to have a holistic view of each and everyone of your customers. In theory this will enable them to make quick, informed decisions, create cross selling and up selling opportunities, measure marketing effectiveness and deliver personalized Customer Care. Sound’s great doesn’t it !!!
The History of CRM
Following on from Enterprise Resource Planning or ERP (the business strategy that promised to automate the “back-office”), the term CRM was first coined in the mid1990s. CRM in those days referred to the software used to help businesses manage their customer relationships. From sales force automation software (SFA) that focused on customer contact management to integrated knowledge management solutions, these were the early foundations of CRM.
The last couple of years have seen the term broaden to encompass a more strategic approach and the investment of billions of dollars worldwide into CRM solutions and services has followed.
First Things First Successful CRM always starts with a business strategy, which drives change in the organization and work processes, enabled by technology. The reverse rarely works. The key here is to create a truly Customer-Centric philosophy that touches every point and more importantly every person in the company. From CSR to CEO everyone must live and breathe customer focus for all of this to work.
The Right Technology
It is estimated that the global market for CRM services and solutions is currently worth $148 billion. That means a lot of choice when selecting your technology - from webbased solutions aimed at small businesses with less than 10 employees to solutions suitable for multi-national enterprises with millions of customers.
CRM has already made a big impact in the world of Customer Service and will continue to do so. As more and more companies become customer-centric those that fail to do so will lose competitive advantage. As technology increases to develop at a startling rate the key emphasis will be how we can fully utilize it within our business. However let's not lose sight of the fact that Customer Relationship Management is about people first and technology second. That’s where the real value of CRM lies, harnessing the potential of people to create a greater customer experience, using the technology of CRM as the enabler.
Advantages Of CRM for Big Bazaar
Using CRM, at the management of Big Bazaar can: ? Provide better customer service ? Increase customer revenues ? Discover new customers ? Cross sell/Up Sell products more effectively ? Help sales staff close deals faster ? Make call centers more efficient ? Simplify marketing and sales processes
By applying this methodology Big Bazaar learned more about customers' needs and behaviors in order to develop stronger relationships with them. They implemented CRM as a process that brought together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends.
CRM helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers.
Challenges For Big Bazaar in CRM implementation:
? .Difficulty in acquiring new customers can be a result of any one, or combination, of the following problems. ? .Inaccurate and Slow Quoting Organizations may be unable to accurately estimate and quickly deliver successful proposals, often leading to missed opportunities, bad profit margins and upset prospects. ? Lack of Product Knowledge Within their Sales Force ? Problems can arise when products were sold that didn’t fit company's profitability strategy such as selling a customer one product when another would be better for the customer and more profitable for you.
? Difficulty and Delay in Updating Pricing and Product Information
When the sales force is relies on incomplete product, pricing and customer information, then they're probably not selling the most profitable products you offer.
? Customers prefer a combination of differing channels in which to deal with your company. Self-service on the web can even be done for complex products. Plus, self-service on the web offers retail banks the opportunity to shift cost out to the customer.
Customer Satisfaction Is Big Bazaar
“The degree of customer satisfaction you deliver determines the level of long-term success you will achieve in business.” - --- Training Mantra for Sales Force
Customer Satisfaction their Top Priority
Don't just make sales. Create customers - satisfied customers. In addition to the
immediate profit they provide on the first sale, satisfied customers help you build your business in 2 other important ways: 1. They become a reservoir of repeat buyers. For some businesses that means repeat buyers for more of the same product or service. For every business, it means buyers for additional products and services. 2. They automatically refer more business to you from their friends and business contacts. This is highly profitable business for you because it doesn't cost you any time or money to get it.
Whatever they Promise More, they Deliver
Never make any promises you can't (or won't) keep. Nothing alienates customers faster than getting something less than they expect from a business transaction. They won't do business with you again. And they will tell everybody they know about their unhappy experience - causing you to lose future customers.
Always Give Customers More Than They Expect
"Over deliver" on quality and service. Always exceed your customers' expectations. You will win their long term loyalty. It also makes it difficult for competitors to steal customers from you - even if they have lower prices. Customers will not risk an uncertain experience with a competitor when they know they will get more than they expect from you.
Customers know how much they value them:
Let your customers know you are always thinking about them. Communicate with them regularly. For example, create some special deals just for your existing customers. And announce new products or services to them before you announce them to the general market.
PROCESS OF CRM
Customer Relationship Management (CRM) is the process of bringing the customer and the company closer together. There are many different areas in which Customer Relationship Management can be implemented. The goal of CRM is to help a company maintain current customers, as well as gain new customers.
Targeted Marketing: Targeted marketing is accomplished through collecting
information about the customer. This information can be buying habits or simply demographics. The idea behind this is that a business analyzes what a customer buys and then markets specific products to that customer based on his or her buying habits. Businesses track buying habits using discount cards, and special store credit cards. Targeted marketing can also be implemented on the Internet. Amazon.com has product recommendations based on buying habits, and product ratings. Customers can also be sent e-mails that market targeted products. Marketing the right products to the right customers can significantly increase a business' sales with minimal associated costs.
Options: Consumers are more likely to choose an alternative after a
relatively inferior option is added as a choice. For example, Simonson says, participants in one study were given a choice • the between $6 and an elegant Cross pen. A second group chose among $6,
same Cross pen, and a second pen that was clearly less attractive than the
Cross pen. As was predicted, the addition of the unattractive pen increased the share of the Cross pen at the expense of the $6.
Alternatives: Consumers prefer alternatives that are compromise choices. Given a choice between two alternatives, one priced lower than the other, the addition of a third choice, priced higher than both, will increase the market share of the more expensive of the original two. This finding suggests that companies can increase their overall sales and shift purchases to higher-margin items by carefully designing the sets of alternatives that their customers consider.
Floor Displays: Buyers are averse to choosing the lowest-quality
alternative in sets of three or more choices. One of the implications of this finding is that marketers of well-known, high-priced brands should encourage retailers to organize floor displays by model type, whereas marketers of lesser-known, lowerpriced brands should prefer organization by brand.
Brands: Consumers who think about the possibility that their purchase
decisions will be wrong are more likely to choose better known brands. In a test case, Simonson showed that consumers debating between a better known, more expensive brand and a lesser-known, less expensive brand expect to feel greater regret if they err by choosing the cheaper option. Indeed, after thinking about the possibility of regret, consumers were more likely to select the betterknown brand. Kodak film has capitalized on this finding with an advertising campaign that asks consumers to consider how they would feel if they bought cheap film and their pictures didn't turn out.
Preferences: Consumers tend to select variety when buying multiple products for consumption at a later time. In each of three weeks, Simonson asked a group of respondents to select one of six familiar snacks for immediate consumption. A second group was asked to pick three snacks -- one for immediate consumption and one for each of the next two weeks. Both groups were told that they could pick the same snack as many times as they wished. Those in the first group tended to select the same snack all three times, whereas most in the second group selected three different snacks.
Product Modifications: Modifying a product with a feature or premium
that is of little or no value to the consumer, even without raising the price, may actually decrease sales. When consumers are uncertain about their preferences, a product that offers an unneeded add-on (such as an offer to purchase a Pillsbury Doughboy collector's plate) provides them with a reason for rejecting it. While marketing professionals can use these findings to influence consumer decision making, consumers, too, can benefit by understanding their own behavior. "One of the points of our research is to inform consumers about some of the factors that influence their decisions," Simonson says. "With such knowledge, they may be able to make better, more thoughtful decisions."
1.5SWOT Analysis of Big Bazaar
? Prime location ? Large floor space allowing for better visual merchandising ? Large area also allows to stock a large variety of products under one roof ? Experienced and competent management ? Highly trained and motivated sales force ? Brand equity ? Large scale operations in various cities throughout the country allows them to reap the benefits of “economies of scale”
? Large scale of operations sometimes acts as a barrier to personalized customer relations ? Large scale operations lead to reduced flexibility by increasing the amount of overheads and a huge commitment in terms of fixed costs
? A large organization structure leads to delayed decisions. This can prove fatal for a business in the dynamic fashion industry. Mumbai, this fact sometimes results in delayed decisions in adapting to changing market trends
Opportunities ? Apart from the metros, cities like Ahmadabad, Pune, Lucknow, Indore and
Coimbatore have shown substantial retail presence. Most sport modern retail formats like supermarkets, department stores and specialty chains. These markets are expected to show exponential growth in the next few years. Thus Food Bazaar has the opportunity to explore new markets ? According to the Consumer Outlook study, consumers are generally satisfied with the service that organized retailers extend to them. More importantly, they are increasingly regarding these organized retailers as providing `valuefor-money’. These findings indicate that large retailers will capture most of the higher consumer spending
? Increasing penetration of the internet into Indian homes has provided Food
Bazaar Mall to break the geographical barriers and to increase their customer base. The entry into online retailing, would, in fact, expand the product categories available to the consumer
? The time when retailers had to worry about competition only from their peers
down the street has come to an end. Food Bazaar is now facing increased 27
competition in the form of international retail chains that are making a beeline towards the highly potential Indian markets. Moreover many big Indian business houses are also vying a space in the Indian retail scene .
Chapter 4 – Data Analysis
RESULT OF SURVEY ON CRM IN RETAIL MANAGEMENT (BIG BAZAAR) CUSTOMER SURVEY
1. Are you satisfied with the services provided by Big-Bazaar?
YES NO CAN’T SAY
25 20 15 Series1 10 5 0 YES NO CAN'T SAY
From the above table it is clear that customers are satisfied with the services of Big Bazaar because out of 30 customers 20 has given the positive answer in favor of Big Bazaar.
2. How do you find the Shopper Assistant’s behavior? HELPING
20 18 16 14 12 10 8 6 4 2 0
EL PI N G G H EL PI R U D E N
From the above table it is clear that customer are satisfied with the attitude of the shopper’s .Out of 30 customer all 18 customer are satisfied.
3. How would you rate the Shopper Assistant’s behavior on the scale of five? 5
3 05 3
2 1 2
1 00 1
5 4 3 2 1 0 5 10 15 20 Series1 Series2
Result: Out of 30 customer,11customer have given the 5 marks
to shopper . Assistant behavior while 14 has given 4 marks&5 has given 3 marks
4. Do you find the Layout of Food-Bazaar helpful in Shopping Experience? YES 20 NO 8 CAN’T SAY
2 8 20 0 5 10 15 20 25 Series1
Result: Out of 30 customers ,18 have told that they like the layout of Big Bazaar while 8 told that they do not like very much.
5. What do you like most about Big-Bazaar ? CREDIT FACILITY
20 15 10 5 0 Cr.Facility Tr.Facility Dl.facility 7 18 5 Series1
Out of 30 Customer, 18 customers like delivery services of Big Bazaar while 7 customers like the credit facility&5 customers like transportation facilities. So it is clear that customer wants delivery services most. 6. How often do Big-Bazaar services exceed your expectations? (Customer Delightness) ALWAYS 18 SOMETIMES NEVER
20 15 10 5 0
AY S ES AL W ET I NE VE R M
18 9 3
Out of 30 Customers ,18 customers said that Big Bazaar always provide better services &it exceed their expectation.
7. Do you think that Big-Bazaar follow the ethical Mktg. Practices like right pricing, right quality and right quantity? YES
30 25 20 15 10 5 0 Yes 25 5 No Series1
Result: Out of 30 customer,25 customers have told that BigBazaar following the ethical marketing practices.
8. What comes first when you think about Food–Bazaar? PRICE
Result: Customer said that when they think about Big Bazaar they think about price. out of 30 customer 20 customer have told this while 10 customer said that they think about quality.
9. How would you rate theme–setting display of Food-Bazaar in comparison to other? EXCELLENT WORST 0
20 15 10 5 0 9
BA D RS T W O
Result: Out of 30 customers, 9 customers said that Food Bazaar theme is excellent while 18 customers said that it is good &3 customers said that it is ok.
SO -S O
RETAILOR SURVEY 10. What is the most important criteria of selection for their Store Assistant and Store Manager?
1 5 4
Commitment toward Customer needs
9 8 7 6 5 4 3 2 1 1 0 0 2 4 6 8 10 12 0 5 0 0 4 10
Result: Out of 20 retailers,10 has given importance to the store manager who have the quality of identifying customer need, while others have given importance on work & good communication skills.
11. Do you display all the entire stock on the rack or some amount is kept for contingence? (Inventory availability) Applicable to all product 14 Only to FMCG
Applicable to some product
7 6 5 4 3 2 1
4 8 14
Result: Out of 20 retailer ,14 have told that they show all the product to customer, while 4 have told that show some product to the customer.
12. How do you decide of point of purchase counter? Brand 2 Price 2 Customer preference 12 Product visibility 4
6 5 4 3 2 1 12 0 0 0 0 2 2 5 10 15 0 4
Result : Out of 20 Retailer, 12 has said they use the customer preference for point of purchase counter while other said that they use brand &product visibility.
13.What is the preference order for promotional activity to create customer awareness? Newspaper
12 10 8 6 4 2 0
j in gl e N ew sp ap er Ba nn er Ad ve r ti si ng
Result : Out of 20 retailer ,10 has told that they use Newspaper as their main tool for promotional .
R ad io
14. How would you analyse the customer satisfaction? Number of repeat purchase database
0 0 0 0 3 7
Result : 20 Out of Retailer,10 retailer said that they get the customer satisfaction by customer database while other have said that they use data of number of repeat purchase.
15. What is your method of analyzing customer satisfaction? Feedback
12 No. of repeat purchase 5
interaction of manager 3
7 6 5 4 3 2 1 0 5 10 15
Result : Out of 20retailer, 12 have told that analyzing the customer satisfaction through the feedback of customer.
Chapter 4- Findings And Recommendation
In this survey the findings are given below:
1. Most of the stores are targeting almost all the segments of the society with their USP being “Price benefit” 2. All the stores are in Prime Location. 3. Every Big Bazaar outlet have motivated and trained sales force. 4. Large variety of products are available ranging from clothes, food items, electronic goods etc. 5. Staff is provided constant training for various peculiarities of customer behavior. 6. Some of them offer discount sales and also send greetings to its loyal customers. 7. Not much difference in the Layout of the floor designs in the various branches. They try to maintain a similarity to maintain comfort levels of customers. 8. These stores maintain Word of Mouth. 9. Customers are satisfied with the provided services. 10. International shopping experiences can be achieved from these stores.
1) Convert your customers into publicity agents. Develop an incentive for them to tell associates and friends about the value of your products or services. An endorsement from them is more effective than any amount of advertising - and it is much cheaper. 2) Surprise your customers with unexpected value. If you sell products, include an "unadvertised bonus" with every order. If you sell services, get into the habit of doing something extra for every customer or client without charging for it.
3) Reward them each time they refer someone who becomes a customer. Your reward can be as simple as a credit toward their next order from you. 4) The management of Big Bazaar can improve their understanding of the role and capabilities of advertising to improve customer relation and enhance loyalty. This understanding should in turn results in a more effective and more efficient advertising campaign. 5)Visual Merchandising: It is often seen that the people come to the store to browse rather than buy. 6) Schemes: In store Promotions: The people visiting the store should be encouraged to visit the store again and again. So it is necessary to delight the shoppers with the shopping experience. It has been observed in
“Customer Service is a critical factor for keeping your clients coming back and ensuring they’ll refer you to others”.
1: Growing your business will be a difficult task at best if you don’t perform, meet and exceed your client’s expectations, and provide service that creates customers for life.
2: Customer service is all about the customer’s perception. You have to do more than just get the job done. You must deliver on all the things (big and small) that affect the relationship with your client. Consider opportunities for improvement in the following areas.
3: Setting/Reviewing Expectations: Do you work with your client to set clear, appropriate, realistic expectations that you can always meet or exceed? Are you clear about the responsibilities (both yours’ and the client’s), timelines, and expectations of results? Are you then willing to go back and review these expectations with the client at key points along the way?
4: Communication: Do you have mechanisms in place to ensure you’re communicating with clients at every stage of the engagement, from the sales process through to completion of the project? Being clear about where you’re at, what’s been completed, what’s coming up next, who’s responsible, what results you can expect, etc.? Has the client ever had to ask you for these things?
5: Organization: Are you organized? Punctual? Reliable? When you show up to work with your clients, have you done the work and are you prepared to make them feel comfortable and taken care of? Even though you’ve done it hundreds, maybe thousands of times before, do you take the time to organize and prepare to make it the best client experience possible?
6: Committing to the Little Things: Don’t ever dismiss the power of all the little things. Together they can make all the difference and really separate you from the competition. Returning calls and emails in a timely manner. Providing useful information to folks on a regular basis. Showing appreciation for your clients through things like thank you notes, exclusive client-only briefings, and open house, etc.
Clearly these are not the only relevant areas for creating great customer service, I assure you. But these were some of the Factors which might Provide a boost to the sales figures, though I am sure the organization would have already implemented most of these measures already.
Big Bazaar-Marketing Mix
Product Branding Packaging Product Design Assortment Services Promotion Advertising Personal Selling Sales Promotion Public Relations Visual Merchandising Price Cost of goods Business Expenses Gross Margin Profit Distribution Logistics Store Location Site Evaluation Transportation Storage of goods
They seem to follow this to the core for effective Customer reach and encourage customer loyalty.
QUESTIONAIRE ON CUSTOMER-RELATIONSHIP
MANAGEMENT IN RETAIL-SECTOR (BIG BAZAAR) CUSTOMER BASED SURVEY 1.Are you satisfied with the services provided by Big-Bazaar? YES NO CAN’T SAY
2.How do you find the Shopper Assistant’s behavior? HELPING NOT HELPING RUDE
3.How would you rate the Shopper Assistant’s behavior on the scale of five? 5 4 3 2 1
4.Do you find the Layout of Big-Bazaar helpful in Shopping Experience? YES NO CAN’T SAY
6.What do you like most about Bigd-Bazaar ? CREDIT FACILITY DELIVERY SERVICES 7.How often do Food-Bazaar services exceed your expectations? ALWAYS SOMETIMES NEVER TRANSPORTATION FACILITY
8. Do you think that Food-Bazaar follow the ethical Mktg. Practices like right pricing, right quality and right quantity? YES NO CAN’T SAY
9 What comes first when you think about Food–Bazaar? PRICE QUALITY 10 How would you rate theme–setting display of Food-Bazaar in comparison to other?
QUESTIONAIRE ON CUSTOMER-RELATIONSHIP
MANAGEMENT IN RETAIL-SECTOR (Big BAZAAR) RETAILOR BASED SURVEY 1.What is the most important criteria of selection for their Store Assistant and Store Manager?
Commitment Toward Customer needs 2.Do you display all the entire stock on the rack or some amount is kept for contingence? Applicable to all product Applicable to some product Only to FMCG
3. Rate the following options as per your priorities while deciding the layout for store? Security m Computerization Parking Air-conditions
4.How do you decide of point of purchase counter? Brand Price Customer preference Product visibility
5. What is the preference order for promotional activity to create customer awareness? Newspaper Radio jingle Advertising Banner
6. How would you analyze customer localities factor? Number of repeat customer localities benefit customer database
7. What is your method of analyzing customer satisfaction? Feedback No. of repeat purchase interaction of manager with customer
8. What is the training methodology used to enhance customer satisfaction in your employee ?
Marketing Management - Philip Kotlar
Research Methodology - C. R. Kothari
Retail Marketing J.A.Lamba
Customer Relationship Management Jagdish and Seth
• • •
www.indiainfoline.com www.google.com www.businessline.com
Related to CUSTOMER RELATIONSHIP MANAGEMENT IN RETAIL SECTOR (BIG BAZAAR)
Solutions Manuals, Instructor Manuals, Test Banks collection 2012
Top 100 MBA Institutes in India
Customer Relationship management
Help for selecting project topic
Bhagavat Gita and Management !!
change management help urgently
17th Sept 2005
FACE OFF::: BMS OR MAB?? MBA OR PGD??
Customer Satisfaction in AIRTEL
Report on Express couriers in Italy - Sector financials
human resource management notes
SIP Report on Big Bazaar
customer relationship management
M&A Yearbook 2012 Available through bharatbook.com
Inventory Management in Big Bazaar, Vijayawada
dissertation project on marketing strategy & davelopment on big bazaar
A Journey to a New Beginning
Indian rural sector is a vibrant economic growth engine - Dr Uday Salunkhe, Group Director-We...
ROI (Return on Investment) & Talent Inventory (TI) – Lesson from IPL5 – A management ...
Big Aims invites application for Bachelor of Science, Indian Pathway Programmes
Overview Institute of Rural Management Anand (IRMA)
Institute of Apparel Management unveils 2 Pro-Up programs for working Professionals in Retail...
Indonesia Textile and Garment 2H11
Customer Love Essential for Marketing
Relationship and Business
Anybody from SCDL For PGDBA
The Effects of ObamaCare on Supply Chain Management
Online Grocery - Hyderabad - Will it Work ?
Preparation Graduate Management Admission Test 2012
Soar High with Multiple Career Opportunities in the Aviation Sector
Retail Management only @ Unitedworld School of Business
Urgent need for some articles about gold ,oil and dollar relationship
A Study On The Consumer Perception Regarding The Success Of Big Bazaar”
Customer Care & Customer Relationship Management in PCCSB
India high on Innovation
Mr Annkur Agarwal Co Founder, PRICEBABA
The World of Retailing: Customer Buying Behavior
Teaser brought to you by Management Paradise
Lecture on Financial Management
A Glimpse to IIM 'K'ulture @ ECHOES 2K12
Vernon Sales Promotion Wilmington NC
Emotional Intelligence in Relationship
Learn how usefull Customer-relationship-management
Mr K.T Chacko-Director of IIFT (5 of 6)
Terms & Conditions
Buy Entrance Exam Forms
Your Link Here
Copyright 2004 - 2015 Management Paradise.
Site Developed by Available.co.in
There was an error processing the request. Please try again.
Login via Facebook?
You are currently logged in to Facebook. Would you like to autologin to the network?
Remember my choice